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RUSSIA
According to Sugar.ru price monitoring data for the period from 26.07.2018 to 02.08.2018 the US dollar rate dropped by -0,8% (on 26.07 - RUR 63,08/$, on 02.08 - RUR 62,56/$). Ruble Moscow wholesale price for sugar increased by 0,10 RUR/kg (+0,31%), Krasnodar wholesale price increased by 0,70 RUR/kg (+2,26%). US dollar Moscow wholesale price for sugar increased by $0,006 /kg (+1,19%), Krasnodar wholesale price increased by $0,016 /kg (+3,26%).
Over the past week, wholesale prices for sugar rebounded and went up. This happened due to the leave of a number of companies from the market (Rusagro, Dominant) and the delay of the start of processing of beets from a new crop. If until recently a number of Krasnodar plants planned to start processing on August 2-3, now that the rains are there and beets are actively gaining weight, the first portion of sugar in the new season should be expected after August 10, and the most of the factories will be launched closer to August 15. Nevertheless, price growth is constrained by the final demand – still too low, and the proximity of the new sugar season. As for prices for the sugar of the new harvest, there are already offers at prices of 30.00 - 31.00 rubles per kilogram. Pessimism is added by falling world prices for sugar, one way or another domestic surplus will have to be sold on the world market at a competitive price, and hence the domestic price at some point should go down to export parity (without VAT).
According to the railway monitoring data by Sugar.Ru, in July Russia imported 15.8 thousand tons of white sugar, which is almost 2 times less than in June (28.5 thousand tons). In January-July 2018 Russia imported 151 thousand tons of sugar total, the largest exporting countries to Russia were Belarus (95.47%) and Lithuania (4.11%). Russian exports in July amounted to 19.2 thousand tons (in June - 15.7 thousand tons), of which 16.5 thousand tons went to Kazakhstan. Since the beginning of the year, exports amounted to 234.2 thousand tons, the main countries - recipients of sugar were Uzbekistan (46.30%) and Kazakhstan (41.80%).
Domestic shipments in 7 months amounted to 805,531 MT, the largest volume of shipments was made by Cheremovskiy (5.44%) and Kirsanovsky (Kristall) (5.37%) sugar plants. Transit of sugar by the Russian railway in July amounted to 47.3 thousand tons (in June - 51 thousand tons). The bulk of the July transit was provided by the supply of Ukrainian sugar to Kazakhstan (33.9 thousand tons)
The poll on domestic consumption conducted at the site of Sugar.Ru showed that the largest number of respondents (30%) estimate the consumption of sugar in Russia below 5.7 million tons.
ARMENIA
According to the analysis of figures by Statkom of Armenia, conducted by Sugar.Ru, production of sugar decreased over the month by 3.62% and has made 15.4 thousand tons in June 2018 (in the previous month - 16.0 thousand tons, in June 2017 - 9.6 thousand tons, in June 2016 - 18.0 thousand tons). Total 31 thousand tons of sugar have been produced in January-June 2018 (in January-June 2017 - 49 thousand tons).
Customs Union
The duty on import of raw sugar to the Customs Union remains at $ 250/MT in August 2018. The average monthly price for raw sugar at the ICE stock exchange was $ 246,01/MT in July 2018, respectively, the import duty in September 2018 will remain at the level - $ 250/MT.
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